BUSINESS NEWS | GHANA AND BEYOND 🌍 16/04/2021

 

🚩The Government of Germany, represented by Christoph Retzlaff, German Ambassador to Ghana, and the Government of Ghana represented by Patrick Nomo, Chief Director of Ghana’s Ministry of Finance, have announced the signing of a 20-million Euro grant-agreement to provide technical cooperation in the areas of Agribusiness and Renewable Energy and Energy Efficiency. Germany, through GIZ will partner with the Ghanaian Government to implement the two projects. The cooperation agreement demonstrates the importance Germany places on its partnership with Ghana and underscores the strong bond between the two countries.

🚩The Ghana Commodity Exchange (GCX) earlier this week undertook its maiden auction of raw cashew nuts on its trading floor. Commenting on the sale, GCX’s CEO, Mrs. Tucci Ivowi said, “we decided to undertake this reserve cashew auction to demonstrate to the actors in the cashew value chain how the GCX structured trading concept which includes; commodity quality testing, grading, weighing, packaging and standardization operates and to prepare our cashew value chain market actors on how to trade on the Exchange as an alternative and a more structured market for trade.” The Exchange currently trades maize, sesame seed, rice, soya beans, sorghum and is working on adding on cashew. 

🚩The Government of Ghana is expected to spend more than GH¢521 million on the upcoming Population and Housing Census scheduled to commence at midnight on Sunday, June 27. This year's census is unique because it will be done technologically and tablets have been acquired for enumerators and supervisors. The amount includes the payment of enumerators, purchasing of logistics, fieldwork cost, and training of members to facilitate the effectiveness and efficiency of the census. Mr Emmanuel G. Osei, the Head of Census Secretariat, disclosed this at the information session with Heads of Department in the Central Region organized by the Ghana Statistical Service (GSS) in collaboration with the Regional Coordinating Council (RCC).

🚩Ghana  and cocoa and chocolate companies announced an agreement on Wednesday to accelerate collaboration to protect and restore forests in cocoa-growing areas. With this agreement, the World Cocoa Foundation (WCF) and the Forestry Commission of Ghana (GFC) are building a partnership to further align the Ghana Cocoa Forest REDD+ Program (GCFRP) and the Cocoa & Forests Initiative to achieve no deforestation commitments. The Memorandum of Understanding, signed by GFC and WCF, commits the parties to working together in six regions where the government of Ghana has made action to protect and restore forests a priority.

🚩Minister of Works and Housing, Francis Asenso-Boakye has revealed that the government will soon set up a National Housing Authority to assist in dealing with the 2million housing deficit in the country. Speaking during the launch of the maiden edition of Home Ownership Series organized by the First National Bank on Thursday, April 15, the Bantama lawmaker revealed that 60 percent of Ghanaians will need government support in the form of subsidy to acquire their own houses. He said also that 35 percent of Ghanaians cannot acquire their own homes even with the support of government. To that end, he said, the government has taken the decision to set up the new authority.

🚩The GSMA’s annual ‘State of the Industry Report on Mobile Money’ has revealed a dramatic acceleration in mobile transactions during the COVID-19 pandemic as lockdown restrictions limited access to cash and financial institutions. The report found that the number of registered accounts grew by 13 percent globally in 2020 to more than 1.2 billion – double the forecast. The fastest growth was in markets where governments provided significant pandemic relief to their citizens. Providing more opportunities in the formal economy To minimise the economic toll of COVID-19 , many national governments distributed monetary support to individuals and businesses. The value of government-to-person payments quadrupled during the pandemic, with the mobile money industry working hand-in-hand with administrations and NGOs to distribute social protection and humanitarian payments quickly, securely, and efficiently to those in need.

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✴✴INTERBANK FOREX RATES 💴💰 

US$GH¢ Buy 5.7285 Sell 5.7343

GB£GH¢ Buy 7.8991 Sell 7.9076

CHFGH¢ Buy 6.2173 Sell 6.2235

AUD$GH¢ Buy 4.4409 Sell 4.4464

CAD$GH¢ Buy 4.5710 Sell 4.5753

JP¥GH¢ Buy 0.0527 Sell 0.0527

NZDGH¢ Buy 4.1067 Sell 4.1119

ZARGH¢ Buy 0.4045 Sell 0.4047

EU€GH¢ Buy 6.8586 Sell 6.8654

CHN¥GH¢ Buy 0.8782 Sell 0.8792

GH¢CFA Buy 95.5453 Sell 95.6401

GH¢NG₦ Buy 71.1467 Sell 71.3211

    

CRYPTOCURRENCY MARKET      

Bitcoin $62,301.04 🔻1.39%

Ethereum $2,454.40 🔼0.76%

Binance Coin $517.56 🔻5.04%

Ripple $1.70 🔻3.42%

Cardano $1.43 🔻0.51%

Polkadot $42.40 🔻1.64%

Uniswap $36.85 🔼3.61%

Litecoin $287.54 🔼3.68%

Dogecoin $0.2393 🔼85.88%

Chainlink $40.56 🔼8.58%

Stellar $0.6192 🔻1.57%

Bitcoin Cash $923.01 🔼13.62%

THETA $12.13 🔻0.28%

TRON $0.1531 🔼8.57%

Filecoin $183.22 🔼5.89%

💵Bloomberg USDGHS Cross Rate - *5.7745* (YTD - 🔽-1.57%)

🔼GSE DAILY GAINERS➖%CHANGE➖PRICE 

CAL ➡Gh¢0.69 🔼+7.81%

FML ➡Gh¢1.11 🔼+0.91%

🔻GSE DAILY LOSERS➖%CHANGE➖PRICE

No losers for today

〽Inflation rate in Ghana  ➡  10.30% (➖0.00%)

🏦Ghana Reference Rate ➡ 14.34% (🔽-2.91%)

✳Policy Rate in Ghana ➡ 14.50% (➖0.00%)

¶ TREASURY RATES💸 

14 - Day Discount Rate 14.4196% Interest Rate 14.5000%

56 - Day Discount Rate 14.1836% Interest Rate 14.5000%

91 - Day Discount Rate 12.4123% Interest Rate 12.8098%

182 - Day Discount Rate 12.7399% Interest Rate 13.6066%

364 - Day Discount Rate 14.1230% Interest Rate 16.4456%

1 Year Fixed Note Interest Rate 16.5672%

2 Year Fixed Note Interest Rate 17.6000%

3 Year Bond Interest Rate 17.7000%

5 Year Bond Interest Rate 18.3000%

6 Year Bond Interest Rate 19.2500%

7 Year Bond Interest Rate 20.5000%

10 Year Bond Interest Rate 19.8000%

20 Year Fixed Rate Bond 20.2000%

🐂GHANA GOV'T EUROBOND RATES 🏦

7 Year Bond Coupon Rate 7.7500%

12 Year Bond Coupon Rate 8.6250%

20 Year Bond Coupon Rate 8.8750%

🛢Average Petrol & Diesel Price Per Litre - Gh¢5.45 (🔺️+4.74%)

🏧 MARKET INDEXES 

*Dow Jones Index🚂⛽ 34,035.99 +305.10 +0.90%

*S&P 500 🏦 4,170.42 +45.76 +1.11%

*Nasdaq Index📲💻  14,038.76 +180.92 +1.31%

* NYSE Composite Index 16,116.85 +116.70 +0.73%

*London FTSE 6,983.50 +43.92 +0.63%

*Germany DAX 15,255.33 +46.18

+0.30%

*Japan NIKKEI 225 29,642.69 +21.70 +0.07%

*Tokyo TOPIX Index 1,959.13 +6.95 +0.36%

*Hong Kong HANG SENG  28,793.14 -107.69 -0.37%

*Shanghai Shenzhen 300 7,058.62 +35.52 +0.51%

*S&P/ASX 200 Index 4,948.97 -31.66 -0.64%

*Bloomsberg EU 500 290.57 +1.29 +0.45%

*France CAC All-Tradable 4,948.97 -31.66 -0.64%

*Dubai DFM General Index 2,633.01 +63.08 +2.45%

*MOEX Russia Index 3,568.51 -8.38 -0.23%

*FTSE/JSE South Africa Top40 62,080.02 -4.37 -0.01%

*Nairobi SE 20 Share 1,873.46 +6.31 +0.34%

*Nigeria SE Main-Board 38,571.89 -64.26 -0.17%

*BBG EMEA World Index 154.43 +0.61 +0.40%

*GSE Composite Index 2,305.10 3.47 0.15%

*GSE Financial Index 1,840.69 5.44 0.30%

🔼GSE 2021 GAINERS ➖ PRICE ➖ YTD%

MTNGH ➡Gh¢0.93 🔼+45.31%

SOGEGH ➡Gh¢0.75 🔼+17.19%

TOTAL ➡Gh¢3.20 🔼+13.07%

SCB ➡Gh¢18.16 🔼+11.34%

GCB ➡Gh¢4.50 🔼+11.11%

🔻GSE 2021 LOSERS ➖ PRICE ➖ YTD%

UNIL ➡Gh¢6.06 🔻-26.90%

ETI ➡Gh¢0.07 🔻-12.50%

ALW ➡Gh¢0.10 🔻-9.09%

EGH ➡Gh¢7.00 🔻-2.78%

ACCESS ➡Gh¢4.30 🔻-2.05%

GSE INDEXES ⏸ 2021 YTD RETURNS% 

*GSE Composite Index 2,305.10 🔼+18.72%

*GSE Financial Index 1,840.69 🔼+3.25%

💧MUTUAL FUNDS IN GHANA♣

📈EQUITY FUNDS ➰YTD%

Databank EPAcK 🔼+4.05%

Republic Equity Trust 🔼+3.40%

⚖BALANCED FUNDS ⏸ YTD%

Databank Bfund 🔼+5.42%

EDC Balanced 🔼+7.46%

CDH Balanced Fund 🔼+4.10%

CM Fund 🔼+4.24%

Republic Future Plan Trust 🔼+3.25%

Databank EdiFund T 2 🔼+5.29%

Dalex Vision Fund 🔼+5.21%

Fidelity Balanced Trust 🔼+6.84%

⚙FIXED INCOME FUNDS 🛡YTD%

EDC Fixed Income 🔼+4.37%

Fidelity Fixed Income Trust 🔼+4.82%

NIMED Fixed Income Tier 1 🔼+3.59%

NIMED Fixed Income Tier 2 🔼+4.01%

Databank Mfund 🔼+4.65%

MONEY MARKET FUNDS ⏱YTD%

Databank EdiFund T1 🔼+5.05%

EDC Money Market Fund 🔼+3.84%

Republic Unit Trust 🔼+4.08%

✴ COMMODITIES MARKET 

*Brent Crude $/barrel⛽ $66.94 +0.36 +0.54%

*Natural Gas 🏭 $/million BTUS $2.67 +0.01 +0.26%

*Gold 👑 $/troy ounce $1,764.00 -2.80 -0.16%

*Silver 💍 $/troy ounce $25.91 -0.06 -0.23%

*Corn 🌽 $/bushel $576.75 -2.75 -0.47%

*Cocoa 🍫 $/metric ton $2,463.00 +4.00 +0.16%

*Coffee ☕ $/pound  $134.70 +0.65 +0.48%

*Sugar🎂 $/pound $16.31 +0.43 +2.71%

*Lumber $/1000 board feet $1,260.70 +48.00 +3.96%

Rubber  USd/kg $163.10 +1.90 +1.18%

Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business, B&FT, StarFmonline, Ghana News Agency.

Compiled By:

Prince Henry Danquah

Bora Capital Advisors Ltd.

+233(0)50-002-3155

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